Newham

Newham Mayor hails 'inspirational' Olympic Stadium deal

22 March 2013 in 2012 Games and legacy and Mayor and Sport and leisure
A landmark deal securing the long-term future of the iconic Olympic Stadium has been hailed by Newham Mayor Sir Robin Wales.
Premier League club West Ham United was confirmed as the Stadium's long term anchor tenant today.
 
West Ham United's 99 year concession commences in 2016 and secures a year round programme of sports and events in the venue. The Stadium hosted the Opening and Closing Ceremonies and some of the finest moments of the 2012 Olympic and Paralympic Games, and will now play host to the world's most watched football games.
 
The Hammers will move into the Stadium in summer 2016, after it is transformed into a UEFA Category 4 venue with 54,000 seats. Transformation works will include a new roof, corporate areas, toilets, concessions and retractable seating.
 
In addition to the funds to be provided by the Legacy Corporation for the adaptation works, West Ham will contribute £15 million, Newham Council will invest £40 million and the Government has agreed to provide additional support of up to £25 million should it be required once the tenders are returned.
 
The deal will generate hundreds of new jobs, encourage many thousands of visitors to the local area and act as a catalyst for further economic investment and growth in the area. The proposed sale of Upton Park also provides further regeneration opportunities.
 
Sir Robin said:
 
"Newham has been committed from the start to ensuring a lasting legacy for the Olympic Stadium that will benefit Newham residents, London and the nation as a whole.
 
"Our investment of £40 million secures that legacy by transforming the Olympic Stadium into a world class attraction and the beating heart of Queen Elizabeth Olympic Park. This will provide us with a share of the profits generated over the long-term and a range of community benefits for Newham residents.
 
"It will enable us to support residents into jobs in such an inspirational place, provide tickets to the Stadium as a reward for those who put something back into our community, and fire the ambition of Newham children as they cross the same finishing line as their sporting heroes.
 
"We're delighted that West Ham United has been chosen by the London Legacy Development Corporation to become the main occupant of the Stadium. It is a community club which shares our vision for Newham and the local area.
 
"We will now work with our partners to transform and develop the stadium and island site into one of London's premier destination venues and a home for sport and entertainment for generations to come."
 
Boris Johnson, Mayor of London and Chair of the London Legacy Development Corporation, added:
 
"This is a truly momentous milestone for London's spectacular Olympic Stadium ensuring its credible and sustainable future. Through this deal with West Ham United FC, we are defying the gloomsters who predicted this landmark would become a dusty relic.
 
"With a series of world class entertainment and sporting fixtures already in the bag for Queen Elizabeth Olympic Park, this iconic site is set to be the glittering centrepiece of ambitious regeneration plans for east London, which will capitalise on the Olympic investment into this area for the long term benefit of this city."
 
Karren Brady, Vice Chairman of West Ham United Football Club, said:
 
"I'm delighted that we have been confirmed today as the anchor concessionaire for the Olympic Stadium. I commend my two Chairmen for their passion and commitment. I am delighted this has been rewarded now that their ambition to see the Club they love enjoy a bright future at the iconic Olympic Stadium has been realised.
 
"It was important to me that we struck a deal that would stand the test of time that represented the right deal for West Ham United and our loyal and patient supporters.
 
"The consultation we have promised them will now begin and we can't wait to work with them to create a stunning new home that befits the pride, passion and tradition that the world associates with West Ham United."
 
Dennis Hone, Chief Executive of the London Legacy Development Corporation, said:
 
"West Ham has a long and proud history in the East End so it's fitting that its new home will be at the heart of Queen Elizabeth Olympic Park. The club also has great experience working with local communities and we are delighted that they will now be partnering with us and Newham Council to bring further sporting, health and education benefits to local people."
 
To mark one year on from the Games and celebrate the success of London 2012, in July this year the Stadium will host several major events. These will include the London Anniversary Games - a weekend of athletics including the IAAF Diamond League and a showcase of 2012 Paralympic champions, as well as a major music concert.
 
Following the full opening of the venue in 2016, the Stadium will also become the new national centre for athletics. UK Athletics has been given priority use of the venue from the third weekend in June to the end of July every year, under a 50 year agreement, while the Stadium will host the IAAF World Athletics Championships and IPC Athletics World Championships.
 
Ed Warner, Chairman of UK Athletics, said:
 
"We're pleased that the Stadium process has reached this next important milestone and remain excited that athletics will be a central part of a vibrant year-round solution to this iconic venue. In the meantime Londoners and the wider British public can look forward in July to three days of world class international athletics in the Olympic Stadium at the London Anniversary Games."
 
Lord Sebastian Coe said:
 
"My congratulations to West Ham and the teams at the Mayor's office and the Legacy Corporation for finalising this deal. Having a well thought out future for the centre piece venue in Queen Elizabeth Park is an exceptional result and I hope the great athletic performances that took place in the Stadium over the summer of 2012 will echo and inspire future teams, future sports and future spectators."